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  SBI stake in Yes Bank declines to 30 per cent after FPO

  July 28, 2020 8:54 IST

  With the FPO, the share capital of Yes Bank doubled to 2,505.4 crore of face value Rs 2 per share from 1,255 of face value of Rs 2 each, it said. Following the FPO, SBI holding in Yes Bank stood at 751.6 crore shares, which is 30 per cent of the total share capital.

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  Godrej & Boyce collaborate with WWF India for Magical Mangroves campaign across eight states

  July 27, 2020 22:04 IST

  Consumer goods firm Godrej & Boyce along with WWF India on Monday launched a nationwide campaign for conservation of mangroves. The 'Magical Mangroves' campaign will span across eight states including Maharashtra, Goa, Gujarat, Andhra Pradesh, Tamil Nadu, Kerala, Odisha and West Bengal

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  IndiGo slashes salaries again; announces 'deeper' pay cuts up to 35% for senior employees

  July 27, 2020 19:34 IST

  The "deeper" pay cuts came after the airline's announcement on July 20 that it would lay off 10 per cent of its workforce due to the economic crisis caused by the pandemic.

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  Govt extends deadline for mandatory hallmarking of gold jewellery till June 1 next year

  July 27, 2020 17:15 IST

  The government on Monday extended the deadline for mandatory hallmarking of gold jewellery and artefacts till June 1, 2021. The decision has been taken in view of the COVID-19 pandemic.   

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  Indian economy to see sharp V-shaped recovery in Q3, Q4: N K Singh

  July 27, 2020 17:06 IST

  India will see a sharp V-shaped recovery in the third and fourth quarter of the current fiscal, but FY21 GDP growth would ultimately be in negative territory as the coronavirus lockdown led to serious demand and supply dislocations, 15th Finance Commission Chairman N K Singh said on Monday.

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  EPFO updates KYC details of 73.58 lakh members in April-June

  July 27, 2020 16:40 IST

  ​Retirement fund body EPFO updated KYC details of 73.58 lakh subscribers in April-June, which enabled them to access a host of its online services, the Labour Ministry said on Monday.  

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  Sensex, Nifty close lower in choppy trade; banking stocks weigh

  July 27, 2020 16:20 IST

  Benchmark Sensex slid over 194 points to settle at 37,935 in a see-saw session on Monday, weighed down by intense selling in banking stocks.

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  Govt releases guidelines for schemes to boost domestic manufacturing of bulk drugs, med devices

  July 27, 2020 15:23 IST

  The objective is to make India self reliant in production of 53 critical Active Pharmaceutical Ingredients (APIs) or Key Starting Materials (KSMs), and in production of medical devices, for which India is crucially dependent on imports, he said in a series of tweets.

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  Hyderabad's Avra Labs to make Favipiravir for Cipla's Ciplenza

  July 27, 2020 15:06 IST

  Hyderabad-based Avra Laboratories Pvt Ltd announced on Monday that it had received regulatory approval from the Central Drugs Standard Control Organisation (CDSCO) to manufacture and market Favipiravir Active Pharmaceutical Ingredient (API) for treatment of COVID-19.

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  Covishield: Will reserve enough coronavirus vaccine doses for Parsis, says Adar Poonawalla

  July 27, 2020 14:17 IST

  “More than enough” doses of the COVID-19 vaccine developed by Oxford University and AstraZeneca will be reserved for the Parsi community, Adar Poonawalla, chief executive officer of the vaccine’s local manufacturer Serum Institute of India (SII), has said.

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  Will realigning OnePlus, Vivo, OPPO work for China's BBK Group in India?

  July 27, 2020 12:25 IST

  For the full calendar year 2019, the BBK Group dominated the Indian smartphone landscape with 37 per cent share, compared to 28 per cent of Xiaomi, according to Counterpoint Research data.

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  Yes Bank tumbles 10 per cent as FPO shares list

  July 27, 2020 12:23 IST

  Yes Bank's follow-on public offer to raise Rs 15,000 crore was subscribed 93 per cent on the final day of bidding. The Follow-On Public Offer (FPO) subscription was 95 per cent after including the anchor investors' portion.

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  HDFC Bank declines over 3 per cent as Aditya Puri sells shares

  July 27, 2020 11:56 IST

  Shares of HDFC Bank on Monday declined over 3 per cent after its chief executive and managing director Aditya Puri sold shares worth Rs 842.87 crore of the private lender last week. The stock dipped 3.36 per cent to Rs 1,081.10 on the BSE. 

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  Telcos in 4G spectrum bid need not place contracts with Chinese firms like Huawei, ZTE

  July 27, 2020 11:44 IST

  The government may impose restrictions on private telecom operators to buy equipment from Chinese firms for projects in which they acquire public assets on a lease basis.

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  Aditya Puri sells 95% of his stake in HDFC Bank worth ₹843 crore

  July 27, 2020 9:02 IST

  Aditya Puri quit his job as head of Citibank Malaysia to launch HDFC Bank in 1994, has created the country’s second-largest lender. The bank's board last year set up a 6-member search committee to identify his successor.

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  Sebi’s new margin rules postponed, guideline to verify upfront collection of margins issued

  July 26, 2020 23:42 IST

  Aimed at making the market safer for investors, markets regulator Securities and Exchange Board of India (Sebi) postponed the implementation of the enhanced margin requirements for trading in the stock market by three months to December 1.

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  Grofers advances IPO lisiting target to 2021-end

  July 26, 2020 23:26 IST

  Softbank-backed Grofers has advanced its plan to launch an initial public offer by the end of next year after its profitability path zoomed during the lockdown period, a top official of the company said.

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  RBI may go in for further 25 bps rate cut, feel experts

  July 26, 2020 23:15 IST

  The Reserve Bank is likely to go in for a minimum 25 basis points cut in key lending rate in the forthcoming monetary policy review as the need to revive the coronavirus-hit economy is pressing notwithstanding marginal uptick in inflation, feel experts.  

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  PNB Housing Finance expects to disburse Rs 13,000 crore loan this fiscal: CEO Neeraj Vyas

  July 26, 2020 17:16 IST

  PNB Housing Finance hopes to disburse around Rs 13,000 crore loan in current fiscal, and expects demand to pick up around October-November with the onset of festive season.

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  FATF review of India's anti-money laundering & terror financing regime pushed to 2021

  July 26, 2020 15:31 IST

  The much-awaited Financial Action Task Force (FATF) mutual evaluation of India's anti-money laundering regime and legal measures framed to check financial crimes, scheduled for this year, has been postponed till early next year in view of the coronavirus pandemic.

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  SBI PensionSeva: SBI bank launches Pension Seva website; Check its benefits, registration process

  July 26, 2020 14:54 IST

  SBI PensionSeva: State Bank of India (SBI), India's largest lender has launched SBI PensionSeva – dedicatedly for its pensioners (other than staff pensioners), who have their pension account in the bank. SBI PensionSeva website is simple to use and would benefit the general public pensioners immensely.

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  7th Pay Commission: Good News! Modi govt issues new increment rules for these Central Govt employees

  July 26, 2020 14:28 IST

  7th Pay Commission: The Narendra Modi government has issued new norms for the regulation of advance increment(s) to a section of Central government employees. Stenographers of Subordinate Offices can now get increment on qualifying speed test in shorthand at 100/120 w.p.m.

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  MCX Q1 net profit up 29% at Rs 56.43 crore

  July 26, 2020 13:32 IST

  The Multi Commodity Exchange of India (MCX) has posted a 29 per cent growth in its June quarter net profit at Rs 56.43 crore. Its net profit stood at Rs 43.70 crore during the corresponding quarter a year ago, MCX said in a BSE filing on Saturday.

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  Diesel prices up again, nears Rs 82/litre after 15 paise increase

  July 26, 2020 12:55 IST

  This is the second consecutive day of the price increase. Rates were hiked by 15 paise on Saturday. The price increase on Saturday came after a four-day hiatus in rate revision.

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  PM SVaNidhi: Here's how street vendors can apply for loan facility

  July 26, 2020 13:39 IST

  The PM SVANidhi scheme was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020. It aims to provide affordable working capital loans to street vendors to resume their livelihoods that have been affected due to the coronavirus lockdown. Know how street vendors can apply for loan facility.

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  Court summons Alibaba, Jack Ma on complaint of spreading fake news on UC Browser and UC News

  July 26, 2020 12:12 IST

  A district court in Gurugram has summoned Chinese E-commerce giant Alibaba and its founder Jack Ma in a case in which a former employee in India says he was wrongfully fired after objecting to what he saw as censorship and fake news on company apps, reports news agency Reuters.

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  Leave without pay: Air India's regional office forms panel to identify 'redundant' employees

  July 26, 2020 12:04 IST

  Air India issued an internal order on July 14, asking its departmental heads and regional directors to identify the employees, based on various factors such as efficiency, health and redundancy, who will be sent on a compulsory LWP for up to five years.

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  No need to privatise PSBs, get govt share down to 26% : RBI Board member

  July 25, 2020 22:26 IST

  Public sector banks should not be privatised given the country's developmental needs but the government can look at reducing its shareholding to 26 per cent by selling a larger portion of its stake to common Indians, RBI's board member Satish Marathe said on Saturday.